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Assurant Health positions themselves for expansion with new Aetna Contract – This could result in lower premiums in areas where Assurant was previously not competitive in the market. January 17, 2012

Posted by solutionsinsuranceservices in Group Insurance, Health Insurance, Individual Insurance.
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Assurant Health Contracts With Aetna Signature Administrators® to Provide Consumers With Access to Expanded PPO Network and Medical Management Services

By Assurant Health

Published: Tuesday, Jan. 17, 2012 – 6:05 am

MILWAUKEE, Jan. 17, 2012 — /PRNewswire/ — Assurant Health, a leading provider of major medical, supplemental and fixed-benefit health plans for individuals, families and small employers, announces an agreement with Aetna Signature Administrators, allowing current and prospective major medical customers of Assurant Health to access the Aetna Signature Administrators national PPO network.

Beginning in March, major medical customers of Assurant Health will be able to access care from more than one million health care providers and 7,500 hospitals nationwide within the Aetna Signature Administrators PPO network. Access to this network will enhance the competitiveness of Assurant Health for individuals, families and small groups. In addition, Aetna will provide utilization and case management services to Assurant members and share risk as part of a reinsurance agreement.

“This partnership with Aetna reaffirms the commitment of Assurant Health to ensuring our customers can access high-quality, affordable health care coverage,” said Adam Lamnin, president and CEO of Assurant Health. “This is great for our customers and exciting for Assurant Health as we strengthen our position as a leading provider of individual and small group major medical insurance in the United States.”

The multi-year agreement provides access to all current and future Assurant Health major medical individual and small group policyholders.

“Through Aetna Signature Administrators, members can gain access to a strong nationwide network of health care providers and important medical management services,” said Ralph Borzillo, President of the Aetna Signature Administrators business. “We are excited to provide these critical services to Assurant Health’s members.”

About Assurant HealthAssurant Health is the brand name for a family of health insurance products focused on providing a variety of affordable plan choices to consumers. The portfolio of health care products includes major medical, supplemental and fixed-benefit plans for individuals, families and small employers. Assurant Health is committed to providing access to convenient health care delivery, easy-to-understand products and value-added services that help customers better manage their health care dollars and get the most out of their coverage—ultimately seeking to protect not only financial security but also the health and well being of its customers. Assurant Health’s products are underwritten and issued by John Alden Life Insurance Company, Union Security Insurance Company and Time Insurance Company, which has been in business since 1892. Headquartered in Milwaukee, Assurant Health employs approximately 2,000 employees.www.assuranthealth.com

Assurant Health is part of Assurant, a premier provider of specialized insurance products and related services in North America and select worldwide markets. Assurant, a Fortune 500 company and a member of the S&P 500, is traded on the New York Stock Exchange and has approximately $27 billion in assets and $8 billion in annual revenue. www.assurant.com

About Aetna Signature AdministratorsAetna Signature Administrators provides access to a national PPO network, medical management services and stop loss or reinsurance coverage to third party administrators and health plans.

SOURCE Assurant Health

New 2013 FSA Maximum Contributions Released January 12, 2012

Posted by solutionsinsuranceservices in Flexible Spending Accounts, Group Insurance, Health Insurance, HealthcareReform.
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The Patient Protection and Affordable Care Act (PPACA) imposed a new $2,500 limit on the contribution or election amount for health care Flexible Spending Accounts (FSA).  The new requirement applies to all FSA plans whose taxable years begin after Dec. 31, 2012 — even plans grandfathered under other provisions of health care reform.

The “taxable year” refers to the employee’s taxable year –and in most cases this stipulation means a calendar year. Thus, a calendar year limitation of $2,500 in salary reductions for the health care FSA will become effective Jan. 1, 2013.

Changes to Plan Documents
Plans that currently allow a health care FSA election of more than $2,500, must amend plan documents before Jan. 1, 2013, and change employee communications. Non-calendar plans that amend their plans as of Jan. 1, 2013, mid-plan year, may face some unique challenges or situations due to the changes required.

Be Proactive
To simplify administration of this change, sponsors of non-calendar year plans may want to adopt the new limit as of the first day of the plan year rather than waiting until Jan. 1, 2013. For example, if the current plan year begins May 1 and ends April 30, the plan sponsor may:

  • Communicate the change to employees.
  • Amend their plan documents to implement the new $2,500 maximum election.
  • Initiate  the changes to the contribution effective May 1, 2012, rather than wait until the mid-plan year in Jan. 1, 2013

IRS Posts W-2 Health Reporting Guidance | LifeHealthPro January 10, 2012

Posted by solutionsinsuranceservices in Group Insurance, Health Insurance.
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IRS Posts W-2 Health Reporting Guidance | LifeHealthPro.

New Florida Minimum Wage May 26, 2011

Posted by solutionsinsuranceservices in Group Insurance, Human Resources, Individual Insurance, SOLUTIONS General.
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Effective June 1, 2011, Florida’s revised minimum wage will be $7.31 per hour for all hours worked in Florida. Employers must pay their employees a wage not less than the amount of the hourly state minimum wage for all hours worked in Florida. The definitions of “employer,” “employee,” and “wage” for state purposes are the same as those established under the federal Fair Labor Standards Act (FLSA). For “tipped employees” meeting eligibility requirements for the tip credit under FLSA, employers must pay a direct hourly wage of $4.29 as of June 1, 2011. More information and a copy of the Florida Minimum Wage poster may be downloaded from the Agency for Workforce Innovation’s website at www.floridajobs.org/workforce/posters.html

Here’s What’s Happened At SOLUTIONS January 12, 2011

Posted by solutionsinsuranceservices in COBRA, Events, Group Insurance, Guest Bloggers, Health Insurance, HealthcareReform, Human Resources, Individual Insurance, Legal Issues, SOLUTIONS General, Uncategorized.
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Please excuse us for taking a break from reporting all the news and information you were accustomed to receiving. We found ourselves restructuring the organization and were focused there. WE ARE BACK and looking forward to a renewed purpose in 2011. This may be a slight bit late, but we want to wish everyone a happy, healthy and successful new year and we look forward to bringing you news, events and updates throughout the year.

PPACA: Mercer Sees Strong Health Care Cost Growth – Core Protection Products – Life and Health Insurance News November 22, 2010

Posted by solutionsinsuranceservices in Group Insurance.
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PPACA: Mercer Sees Strong Health Care Cost Growth – Core Protection Products – Life and Health Insurance News.

SOLUTIONS is now an affiliate of Integrity First August 6, 2010

Posted by solutionsinsuranceservices in Group Insurance, Health Insurance, Individual Insurance.
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In an effort to provide our customers with more support and assistance, and to allow Solutions to expand into other states quickly, we have joined forces with Integrity First Consulting, a national agency.

After assisting our clients in understanding the nuances of health insurance, many of them asked the we help other members of their families. Many of them are spread out to other states which limited our ability to assist. By expanding into other states, we are trying to fulfill our clients request to assist their relatives who live all over the country.

Don’t be surprised if you receive newsletters and other materials from Integrity First (IFC). This is just another benefit to you with this alliance.

Federal COBRA Subsidy – Another 2 Month Extension April 23, 2010

Posted by solutionsinsuranceservices in Group Insurance, Health Insurance, Individual Insurance.
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President Obama has approved another two month extension for the 65% federal subsidy for health insurance premiums for those individuals who are involuntarily terminated from employment. COBRA, as a quick reminder, is what an individual can elect to participate in for their health insurance. Normally, the individual would pay the full rate for health insurance that is billed to the employer, plus a small administrative fee. With the federal subsidy, individuals only pay 35% of those rates, the federal goverment is paying the rest.

This round of extensions will cover anyone involuntarily terminated through May 31, 2010. There are talks of extending the subsidy through the end of the year, we just have to wait and see.

Michelle’s Law – Do you have full-time college students? What you should know. November 9, 2009

Posted by solutionsinsuranceservices in COBRA, Group Insurance, Health Insurance, Individual Insurance, Uncategorized.
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With so much activity regarding healthcare changes, it’s certainly difficult to keep abreast of all the different laws enacted and determine how they affect you and your family. Michelle’s Law goes into effect on January 1, 2010. What this law requires is, if your dependent child attending college loses their full-time student status due to a serious illness or injury and takes a leave of absence, they will continue their coverage in an employer’s group health plan for up to one year after the leave begins or the date on which the child’s coverage under the group plan would end.

For example: The state applies coverage regulations for dependent children who are full-time students up to 25 years old; if the child takes a leave from college at age 22, they would remain covered for up to one year without being a full-time student; however if the child takes a leave from college at age 24 and turns 25 in 3 months, Michelle’s Law no longer applies and coverage does not extend past the maximum age of 25.

As a parent with college student, Michelle’s Law is a need-to-know. You will know that your child is covered or you can make the necessary decisions for changes to your health care plan.

Survey indicates that health care costs will rise by 10.5% next year August 26, 2009

Posted by solutionsinsuranceservices in Group Insurance, Health Insurance, Individual Insurance.
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A recent study by AON Consulting indicates that the cost of healthcare will increase by 10.5% next year.  The good news is it’s slightly less than a year ago.

The survey found that costs are projected to increase by 10.4 percent for HMOs, 10.4 percent for point-of-service (POS) plans, 10.7 percent for PPOs and 10.5 percent for consumer-driven health (CDH) plans.

Prescription drug costs are expected to increase 9.3 percent, which is slightly lower than the 9.4 percent rise one year ago.